Cameroon’s cocoa export revenue falls 63% as shipments and prices decline
Cameroon’s raw cocoa bean export revenue fell 63% in the 2025-26 season as shipments dropped 34.7% and FOB prices weakened sharply. Lower marketed production and a near-tripling of closing stocks added pressure, while three exporters controlled 70.3% of shipments.
Export value drops by CFA673 billion
Cameroon’s raw cocoa bean export earnings fell 63% during the 2025-26 season after both shipment volumes and international prices declined sharply. Business in Cameroon, citing data released by the National Cocoa and Coffee Board, or ONCC, reported that the season officially ended on July 15, 2026.
The country exported 125,469 tons of raw cocoa beans, down by 66,543 tons, or 34.7%, from 192,012 tons in the previous season. The value of these exports at the port of Douala fell to CFA400.9 billion from CFA1.07 trillion, a reduction of CFA673 billion. Revenue therefore contracted much faster than physical shipments.
Lower prices amplified the effect of reduced volumes. According to the ONCC, FOB cocoa prices at Douala ranged from CFA1,520 to CFA3,110 per kilogram in 2025-26, compared with CFA3,808 to CFA7,536 per kilogram in 2024-25. Business in Cameroon calculated that the range declined by roughly 58% to 60% between the two seasons.
Production falls as inventories build
Marketed cocoa production decreased 19.9% to 247,914 tons from 309,518 tons, limiting the volume available for purchase and export. The ONCC did not give a specific reason for the fall in export shipments. The contraction also coincided with a decline of more than 15% in the volume of beans processed locally.
Closing stocks, meanwhile, almost tripled to 40,446 tons from 13,946 tons. The 26,500-ton increase in beans carried in inventory indicates that weaker exports were not solely the result of lower production. For suppliers, processors and traders, the combination of reduced marketed output and larger stocks points to a market in which more beans remained unsold or unshipped at the end of the season.
Three exporters control 70.3% of shipments
Telcar Cocoa regained first place among Cameroon’s cocoa exporters with shipments of 40,631 tons, equal to 32.4% of the national total. The company, led by Kate Fotso, had exported 30,497 tons and held a 15.7% share in 2024-25 after its partnership with U.S. commodities trader Cargill ended. Ofi Cam ranked second in 2025-26 with 24,394 tons, or 19.4%, while the previous leader, SBET, moved to third with 23,223 tons and an 18.5% share. Together, the three companies handled 70.3% of cocoa bean exports.
Europe remained the dominant destination, receiving 84.6% of Cameroon’s exports, with the Netherlands leading the market. Asia accounted for 14%, while the Americas and Africa each received about 1%. This concentration leaves Cameroon’s export performance closely tied to European demand and the purchasing decisions of a small group of exporters.
Cocoa’s lead over crude oil comes under pressure
The downturn may change the composition of Cameroon’s export earnings. Cocoa overtook crude oil as the country’s largest export product in 2025 after benefiting from the earlier rise in global prices. National Institute of Statistics data showed that cocoa beans generated 26.3% of export revenue that year, compared with 22.9% for crude oil. With seasonal cocoa earnings now down 63%, retaining that position in 2026 could prove difficult.